Recurrent Sells Stakes in Ontario Solar to Mitsubishi, Osaka Gas

June 14 (Bloomberg) -- Recurrent Energy LLC, the U.S. unit
of Sharp Corp. that develops solar-power plants, sold to
Mitsubishi Corp. and Osaka Gas Co. a majority stake in nine of
its projects in the Canadian province of Ontario.

The deal is “a sign of how deep the capital pool is for
solar and how established solar is now as an asset class,”
Harris said today by telephone. “This is exactly the kind of
thing that we anticipated would happen as solar begins to enter
the mainstream,” he said.

The projects total about 100 megawatts in capacity, or half
of Recurrent’s contracted capacity in the province, and are
expected to be completed next year, the company said in an e-mailed statement. The purchase price wasn’t disclosed.

Recurrent has 200 megawatts of 20-year feed-in tariff
contracts with the Ontario Power Authority, which will pay
C$0.44 ($0.43) a kilowatt hour.